RP imports continue decline, fall 28.3% in August
10/27/2009 | 11:35 AM
RP imports continued to decline for the eleventh consecutive month as August levels fell 28.3 percent, the government said Tuesday.
The National Statistics Office (NSO) said imports fell 28.3 percent to $3.617 billion from $5.044 billion in August last year. This was an improvement from July's imports of 31.6 percent contraction.
Month-on-month, total imports for August fell by 10.2 percent from $4.026 billion recorded in July. For the first eight months, imports plunged by 30.3 percent to $24.005 billion form $34.454 billion in the same period last year.
The drop in import levels from January to August brought the country's trade deficit to $4.002 billion from $6.037 billion deficit in the same 8-month period last year.
For August alone, the trade deficit was $144 million, lower than the last year's recorded deficit of $650 million.
Electronics, which accounted for 36 percent of the total import bill declined by 21.2 percent to $1.302 billion.
"This was due to the 25.7 percent decrease in Components/Devices (Semiconductors)
which comprised the biggest share of 26.2 percent among the major groups of electronic products," the agency said. - GMANews.TV
The National Statistics Office (NSO) said imports fell 28.3 percent to $3.617 billion from $5.044 billion in August last year. This was an improvement from July's imports of 31.6 percent contraction.
Month-on-month, total imports for August fell by 10.2 percent from $4.026 billion recorded in July. For the first eight months, imports plunged by 30.3 percent to $24.005 billion form $34.454 billion in the same period last year.
The drop in import levels from January to August brought the country's trade deficit to $4.002 billion from $6.037 billion deficit in the same 8-month period last year.
For August alone, the trade deficit was $144 million, lower than the last year's recorded deficit of $650 million.
Electronics, which accounted for 36 percent of the total import bill declined by 21.2 percent to $1.302 billion.
"This was due to the 25.7 percent decrease in Components/Devices (Semiconductors)
which comprised the biggest share of 26.2 percent among the major groups of electronic products," the agency said. - GMANews.TV
